§ 1393. Actuarial assumptions

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(a)Use by plan actuary in determining unfunded vested benefits of a plan for computing withdrawal liability of employer The corporation may prescribe by regulation actuarial assumptions which may be used by a plan actuary in determining the unfunded vested benefits of a plan for purposes of determining an employer’s withdrawal liability under this part. Withdrawal liability under this part shall be determined by each plan on the basis of—

(1)actuarial assumptions and methods which, in the aggregate, are reasonable (taking into account the experience of the plan and reasonable expectations) and which, in combination, offer the actuary’s best estimate of anticipated experience under the plan, or

(2)actuarial assumptions and methods set forth in the corporation’s regulations for purposes of determining an employer’s withdrawal liability.

(b)Factors determinative of unfunded vested benefits of plan for computing withdrawal liability of employer In determining the unfunded vested benefits of a plan for purposes of determining an employer’s withdrawal liability under this part, the plan actuary may—

(1)rely on the most recent complete actuarial valuation used for purposes of section 412 of title 26 and reasonable estimates for the interim years of the unfunded vested benefits, and

(2)in the absence of complete data, rely on the data available or on data secured by a sampling which can reasonably be expected to be representative of the status of the entire plan.

(c)Determination of amount of unfunded vested benefits For purposes of this part, the term “unfunded vested benefits” means with respect to a plan, an amount equal to—

(A)the value of nonforfeitable benefits under the plan, less

(B)the value of the assets of the plan.

(Pub. L. 93–406, title IV, § 4213, as added Pub. L. 96–364, title I, § 104(2), Sept. 26, 1980, 94 Stat. 1233; amended Pub. L. 101–239, title VII, § 7891(a)(1), Dec. 19, 1989, 103 Stat. 2445.)

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Public Law 96–364
To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1954 to improve retirement income security under private multiemployer pension plans by strengthening the funding requirements for those plans, to authorize plan preservation measures for financially troubl

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U.S. Code

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Pub. L. 93–406, title IV, § 4213
Pub. L. 96–364, title I, § 104(2)
94 Stat. 1233
Pub. L. 101–239, title VII, § 7891(a)(1)
103 Stat. 2445
Pub. L. 101–239
Pub. L. 99–514
section 7891(f) of Pub. L. 101–239

Citation graph

cites case law

§ 1393

Actuarial assumptions

Fed. Reg.×2

Stat.×1

U.S.C.§ 412

U.S.C.§ 1002

Pub. L.Pub. L. 93–406, title IV, § 4213

Pub. L.Pub. L. 96–364, title I, § 104(2)

Stat.94 Stat. 1233

Pub. L.Pub. L. 101–239, title VII, § 7891(a)(1)

Stat.103 Stat. 2445

Cites 10 · showing 7Cited by 3 across 2 sources